WEALTH June 24, 2026 0 Comments

Unlocking Growth: How This Budget Move Could Be the Lifeline SMEs Desperately Need—Are You Ready to Seize It?

Ever wonder why small and medium-sized enterprises—our economy’s trusty backbone—often get buried under a mountain of paperwork and regulations? It’s like asking a sprinter to run a marathon while carrying a backpack full of rocks. That’s the real grit ACCA is calling out as they urge the government to cut SMEs some serious slack in Budget 2027. With inflation biting and economic storms brewing, these businesses aren’t just juggling growth; they’re struggling to stay afloat amid mounting compliance costs. Imagine if there were a tailored lifeline—a government-funded mechanism to lighten this disproportionate burden, plus tax credits that actually make hiring new talent less of a wallet-ache. ACCA’s vision? A crystal-clear, transparent system where the tangled web of tax administration changes gets broken down so SMEs can breathe easy, thrive, and create jobs without the constant fear of drowning in red tape. Ready to see how this could reshape the SME landscape? LEARN MORE

The Association of Chartered Certified Accountants (ACCA) has called on government to introduce targeted measures to ease the administrative and cost pressures on SMEs in Budget 2027.

In its pre-Budget submission, the accountancy body said SMEs are facing increasing compliance demands at a time of rising costs and economic uncertainty.

Targeted intervention is now needed to protect growth and sustain employment, ACCA added.

The organisation would like to see the introduction of a government-funded mechanism to ease the “disproportionate compliance burden on SMEs” as well as guidance and assistance to be offered to help businesses navigate their regulatory requirements.

It has also proposed the development of a targeted SME tax credit for onboarding employees to help offset indirect employment costs including recruitment, temporary cover and compliance with labour market regulation.

Additionally, ACCA has called for the establishment of an independent mechanism to assess the real-world impact of tax administration changes on SMEs.

This would ensure that the cumulative burden of new reporting and compliance requirements is properly understood, strengthen transparency in the system, and support more effective policymaking.

“SMEs are operating in an increasingly complex and uncertain environment, with compliance and administrative demands continuing to grow,” said Stephen Noonan, head of ACCA Ireland.

“Budget 2027 is an opportunity to take practical steps that reduce these pressures and support businesses to focus on growth.

“Targeted supports whether through easing compliance, supporting employment or improving how tax changes are assessed can make a meaningful difference to SME resilience and to the wider economy.”

ACCA said that improving simplicity, proportionality and predictability within the tax system will be critical to sustaining inclusive economic growth and supporting businesses to invest, innovate and create jobs.

Photo: Stephen Noonan. (Pic: Supplied)